Paysafe, Worldpay Partner On New Payment Solution For US iGaming And Sports Betting Markets
Global payments company Paysafe Group has partnered with payment technology provider Worldpay to establish an industry-leading standard in iGaming and Sports Betting digital payments acceptance and security in the US.
Paysafe is a global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.
The company’s online gambling and gaming digital payment products include NETELLER, an e-money transfer service used to transfer money to and from merchants. The service recently launched an “in-wallet buy-and-sell cryptocurrency feature,” which currently supports bitcoin (BTC), Bitcoin Cash (BCH), ethereum (ETH) and Litecoin (LTC). The company is also offering Paysafecard, a prepaid online payment method based on vouchers with a 16-digit PIN code, independent of bank account, credit card, or other personal information.
Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. The company claims to process over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. It is focused on expanding into high-growth markets and customer segments including global eCommerce, integrated payments and B2B.
Under the agreement, the two companies will combine Worldpay’s deep sector expertise and optimized credit card processing, fast-fund payouts, and a range of treasury and payment solutions with Paysafe’s online gambling and gaming digital payment options to enable seamless transactions, reduce operating costs and allow universal payment acceptance. According to the parties, combining Paysafe’s and Worldpay’s capabilities in the iGaming sector, which is forecast to be worth $150 billion by 2024, will help to boost the player’s payment choices, leading to better conversion and retention.
“Through this partnership, Worldpay and Paysafe will be able to champion the needs of US iGaming operators and their players by providing a secure, cost-effective and highly configurable payments platform that delivers an unparalleled player experience,” said Joel Leonoff, President and CEO at Paysafe Group. “Our innovative approach means we can support all transactions, no matter how the player wants to pay. We’re very excited to once again get behind a new and growing sector.”
The two companies’ combined solution will reportedly provide seamless connectivity, via a single point of integration, to wide-ranging payments solutions and services, such as credit card processing, digital wallets, cash payment solutions, ACH and near instant push-to-card payouts tailored for the US market.
“As a leading payments provider for iGaming companies, state lotteries and land-based casinos, Worldpay is excited about the enhancements this partnership will bring when it comes to maximizing payment acceptance, enabling new digital wallets, as well as minimizing fraud risk and lowering cost,” said Shane Happach, EVP, Head of Global Enterprise eCommerce for Worldpay. “Our combined strengths and capabilities will simplify payments for gaming operators, while also continuing to show our attentiveness to responsible gaming and our mission to protect the integrity of every transaction.”
